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In July 2018, hyperinflation in Venezuela was sitting at 33,151%, "the 23rd most severe episode of hyperinflation in history". [89] In April 2019, the International Monetary Fund estimated that inflation would reach 10,000,000% by the end of 2019. [90] In May 2019, the Central Bank of Venezuela released economic data for the first time since 2015.
The hyperinflation drew significant interest, as many of the dramatic and unusual economic behaviors now associated with hyperinflation were first documented systematically: exponential increases in prices and interest rates, redenomination of the currency, consumer flight from cash to hard assets and the rapid expansion of industries that ...
Inflation has been a feature of history during the entire period when money has been used as a means of payment. One of the earliest documented inflations occurred in Alexander the Great's empire 330 BCE. [26] Historically, when commodity money was used, periods of inflation and deflation would alternate depending on the condition of the ...
Hyperinflation in Zimbabwe is an ongoing period of currency instability in Zimbabwe which, using Cagan's definition of hyperinflation, began in February 2007. During the height of inflation from 2008 to 2009, it was difficult to measure Zimbabwe's hyperinflation because the government of Zimbabwe stopped filing official inflation statistics.
A 500 billion dinar banknote, which was the largest denomination banknote printed in Yugoslavia. Between 1992 and 1994, the Federal Republic of Yugoslavia (FRY) experienced the second-longest period of hyperinflation in world economic history [1] after that of 1920s Russia, [a] caused by an explosive growth in the money supply of the Yugoslav economy during the Yugoslav Wars. [3]
Under President Maduro, the inflation rate has been increasing at the highest levels, with the BCV estimating that inflation was at 56% in 2013, 69% in 2014 (highest in the world), and 181% in 2015 (highest in the world and the country's history). In 2016, Venezuela entered hyperinflation.
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Hyperinflation was disastrous for Greece’s workers and peasants: real wages fell by over fifty percent between the invasion by Mussolini’s Italy and the peak of inflation. [18] The depletion of gold as stocks of goods fell with the departure of the Nazis further exacerbated shortages and forced businesses back to barter. [ 25 ]